Fed’s Rosengren Says Inflation Doubts Justify Slow Rate Pace

Federal Reserve Bank of Boston President Eric Rosengren said uncertainty over inflation and global growth justifies a modest pace of interest-rate increases, regardless of when the central bank begins tightening.

“Given current and forecast conditions, not only is the pace likely to be gradual, but the federal funds rate in the longer run may be lower than in previous tightening cycles,” he said Tuesday in a speech to the Forecasters Club of New York.